Mtechtips MCX-SX JPYINR INTRADAY trading analysis 20-05-2016

Mtechtips MCX-SX JPYINR INTRADAY trading analysis 20-05-2016
MTECHTIPS:- Yen traded little changed Thursday on safe-haven bets amid strong dollar after Federal reserve April monetary policy meeting minutes hinted at an interest rate hike in June.Buy strategy given around 61.20-61.20 was initiated and after hitting a high of 61.48, JPYINR settled at 61.4450 levels. Sustain trade above the crucial support of 60.90 is creating probability for further upside move.Further, JPYINR would need to trade below 60.90 in order to test 60.70-60.50 and below.

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